Recently added articles from Daily News:
Rise in 2008 Global FX Volume Slows: Greenwich
Apr 13, 2009; ... NEW YORK (Reuters) - Global trading volume in the $3.2 trillionforeign exchange market in 2008 expanded from 2007 but the pace ofgrowth was slower than in the previous two years, according toGreenwich Associates. In a report released on Monday [April 13], the firm said lastyear's ...
Some Madoff Investors Push Swindler Toward Bankruptcy
Apr 13, 2009; ... NEW YORK (Reuters) - In a move to ensure that all of the personalassets of jailed swindler Bernard Madoff are used to pay hisdefrauded customers, some investors filed court papers on Monday[April 13] to force him into involuntary bankruptcy. A judge last week opened the door for ...
Meiji Yasuda to Cut Unhedged Foreign Bonds
Apr 13, 2009; ... TOKYO (Reuters) - Japan's Meiji Yasuda Life Insurance Co. said onMonday [April 13] it planned to cut its unhedged foreign bondholdings while increasing its hedged foreign bond holdings thisbusiness year to offset currency risks. The nation's third-largest life insurer by assets ...
Hedge Standards Body Targets 100 Funds by End-'09
Apr 09, 2009; ... LONDON (Reuters) - A body set up to monitor standards of conductamong Britain's under-fire hedge funds aims to double the tally ofindustry players signed up to its code of practice by the end of2009 following a dressing-down from lawmakers. The Hedge Fund Standards Board, which ...
Opinion: Legal Due Diligence Considerations for Hedge Fund Investors
Apr 09, 2009 ... The current turmoil in global capital markets, as well as therecent wide-scale frauds allegedly perpetrated by Bernard Madoff,Robert Allen Stanford and Paul Greenwood and Stephen Walsh havereaffirmed the importance of the due diligence process in makingwell-informed investment ...
HSBC Sees 'Tipping Point' in Hedge Fund Outflows
Apr 09, 2009; ... LONDON (Reuters) - HSBC Global Asset Management says it isfinally seeing inflows into some of its hedge funds and believes itmay have reached a "tipping point" after a tough period of clientwithdrawals. Bill Maldonado, head of alternative investments at the firm'sactive ...
Toxic Assets Key to TARP's Fate: Congress Panel
Apr 08, 2009; ... WASHINGTON (Reuters) - The U.S. government's huge financialrescue program may get the nation through the present economiccrisis, but it likely won't be enough if the downturn is worse thanexpected, a congressional panel said on Tuesday [April 7]. Six months after the Bush ...
Time Runs Out for Charges Against Michael Berger
Apr 08, 2009; ... VIENNA, Austria (Reuters) - A banker arrested in 2007 over the$400 million collapse of his fund during the tech bubble may walkfree this summer if charges cannot be prepared in time to meet a two-year deadline, Vienna prosecutors said on Wednesday [April 8]. Michael Berger, an ...
Short Sellers Decry Scapegoating as SEC Eyes Rules
Apr 08, 2009; ... NEW YORK (Reuters) - Short sellers are scapegoats and the victimsof politics, said traders and asset managers on Wednesday [April 8]as regulators met in Washington to propose new restrictions on thetrading strategy that profits from falling stocks. Members of the U.S. Securities ...
Target Urges Rejection of Ackman's 'Risky Agenda'
Apr 08, 2009; ... CHICAGO (Reuters) - Retailer Target Corp. on Wednesday [April 8]again asked shareholders to reject an independent slate ofdirectors, warning that a vote for William Ackman's group of fivecandidates could support his "risky agenda." For the third day in a row, the Midwestern ...
Investors, Others React to SEC Considering Restrictions on Short Sellers
Apr 08, 2009 ... NEW YORK (Reuters) - U.S. securities regulators met Wednesday[April 8] to consider restrictions on short selling, an investingstrategy that some lawmakers and corporate executives sayexacerbated the financial crisis and drove down stock prices. The Securities and Exchange ...
SEC to Consider Restricting Short Sellers
Apr 08, 2009; ... WASHINGTON (Reuters) - U.S. securities regulators meet onWednesday [April 8] to consider restrictions on short selling, atype of investing blamed by some lawmakers and executives forexacerbating the financial crisis and driving down share prices. The Securities and Exchange ...
Third Avenue Sues MBIA Units
Apr 07, 2009; ... NEW YORK (Reuters) - Third Avenue Management LLC, the investmentfirm run by veteran investor Martin Whitman, has sued two MBIA Inc.units, alleging the bond insurer's recent move to split its businesswas "illegal" and has hurt debt holders. Third Avenue filed a complaint against ...
HFR Global Hedge Fund Indexes Flat in March (Updated Story)
Apr 07, 2009; ... Editor's note: This version of the story adds detail from HFR'smonthly performance update. CHICAGO (Reuters) - Hedge funds on average rose 1.8 percent lastmonth, contributing to a 0.5 percent gain for the first quarter thatoutpaced public stock indexes, Hedge Fund Research Inc said ...
Germany Eyes Government-Owned Banks in Haven Crackdown
Apr 07, 2009; ... BERLIN (Reuters) - Germany's finance minister has signaledGermany may seek to influence the strategy of banks partially ownedby the government, such as Commerzbank, as part of an effort toclamp down on tax evasion. Asked if it made sense to prevent banks in which Germany ...
AIG's Asset Management Division Gets Bidders: Report
Apr 07, 2009; ... NEW YORK (Reuters) - About half a dozen investment managers haveput forward bids, ranging between $400 million to $800 million, fortroubled insurer American International Group's asset managementbusiness, The Wall Street Journal reported, citing people familiarwith the matter ....
E.U. to Demand Leverage and Risk Data from Hedge Funds
Apr 07, 2009; ... BRUSSELS, Belgium (Reuters) - Managers of hedge funds and privateequity funds will need to be registered, hold a minimum level ofcapital and disclose information on borrowing to regulators under adraft European Union proposal obtained by Reuters. Fund managers using high levels of ...
Investors Turn the Table on Hedge Fund Fees
Apr 07, 2009; ... NEW YORK (Reuters) - Not only are hedge funds losing clients andmoney, they are losing clout, too, as large investors turn the tableon them and demand better terms. Stung by investment losses and vexed by so-called gates thatlimit redemptions, some of the largest pension funds and ...
SocGen Hedge Fund Manager Leaves to Create Own Fund
Apr 07, 2009; ... PARIS (Reuters) - Hedge fund manager Arie Assayag is leavingSocit Gnrale to set up his own independent hedge fund, the bank saidon Tuesday [April 7]. SocGen, denying an earlier article in La Tribune newspaper, saidit would not provide any capital for the new vehicle. Mr ....
Hedge Fund Paid Obama Adviser Summers $5.2 Million
Apr 06, 2009 ... WASHINGTON (Reuters)Lawrence Summers, a top economic adviser toU.S. President Barack Obama, was paid about $5.2 million (3.48million pounds) by hedge fund D.E. Shaw in the past year, financialdisclosure forms released by the White House showed on Friday. Mr. Summers, a former U.S ....